Mitsubishi UFJ Financial Reports Profit Plunge
TOKYO, Nov. 14 (Kyodo) — Mitsubishi UFJ Finance Group Inc. said Wednesday its April-September group net profit plunged 58.3 percent from a year earlier to 290.48 billion yen as revenue decreased 11.7 percent to 2.36 trillion yen.
Consolidated pretax profit in the first half of the year to next March 31 fell 40.5 percent to 570.05 billion yen.
But net business profit increased from 553.8 billion yen to 569.6 billion yen for the Bank of Tokyo-Mitsubishi UFJ, the group's main banking subsidiary, and from 74.6 billion yen to 79.8 billion yen at its trust bank unit Mitsubishi UFJ Trust and Banking Corp.
For the full year to March 2013, the group left its group net profit estimate unchanged at 670 billion yen, down from 981.3 billion yen the previous year.